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Test Bank for Macroeconomics, 6th Edition

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1Macroeconomics, 6e(Williamson)Chapter 1Introduction1.1Multiple-Choice Questions1) In 2014, the per-capita GDP in the United States, in 2005 dollars, was aboutA) $17,500.B) $27,500.C) $50,000D) $47,500.Answer: CLO: 1.2: Explain the key features of trend growth and deviations from trend in per capita grossdomestic product in the United States from 1900 to 1914.Difficulty: easyClassification: conceptAACSB: application of knowledge2) Which of the following topics isNOTa primary concern of macroeconomists?A) fluctuations in the level of economic activityB) differences in standards of living across countriesC) relative wages of skilled and unskilled workersD) unemploymentAnswer: CLO: 1.1: State the two focuses of study in macroeconomics, the key differences betweenmicroeconomics and macroeconomics, and the similarities between microeconomicsDifficulty: moderateClassification: conceptAACSB: analytical thinking3) Primarily, macroeconomists use microeconomic principles to studyA) business cycles and trends in the stock market.B) long-run economic growth and antitrust policies.C) trends in the stock market and long-term economic growth.D) long-run economic growth and business cycles.Answer: DLO: 1.1: State the two focuses of study in macroeconomics, the key differences betweenmicroeconomics and macroeconomics, and the similarities between microeconomicsDifficulty: moderateClassification: conceptAACSB: application of knowledge

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Subject
Biology
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Biology: How Life Works by James Mo...

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